US tells Iran to reach agreement on Russian naval exercises

The Trump administration warned that it would be “very wise” for Iran to reach a deal after reports the White House was considering new military action against Tehran as soon as this weekend.

This came shortly after Vice President J.D. Vance accused Iran of failing to meet core US demands during this week’s nuclear negotiations in Switzerland. Iran’s foreign minister previously reported on progress in negotiations, saying the two sides had reached an agreement on “guidance” for the negotiations.

White House press secretary Caroline Levitt said at a press briefing on Wednesday that there were “many reasons and arguments that were once possible” for an attack on Iran, noting that the two countries remain “very far apart” on some issues.

Mr Levitt said the US president achieved a “very successful” operation last June when US stealth bombers attacked three Iranian nuclear facilities as part of “Operation Midnight Hammer”.

“The president has always been clear, when it comes to Iran or any country in the world, diplomacy is always the president’s first option. And Iran would be very wise to make a deal with President Trump and this administration,” Levitt said.

The White House has said it remains hopeful of reaching a diplomatic solution to Iran’s nuclear program, but US media reported that the military could be ready to attack Iran as early as the weekend.

The United States and Iran have stepped up military activity in the oil-producing region of the Middle East in recent weeks.

The United States is also building a significant presence of air and sea assets, while Iran has conducted military exercises in the strategic Strait of Hormuz and announced joint naval exercises with Russia in the Sea of ​​Oman.

Laura James, senior Middle East analyst at Oxford Analytica, said the current situation was “very dangerous”, with the US and Iran “certainly closer” to full conflict than they were last week.

“What’s particularly concerning right now in the last 24 hours is that the United States is building up its air power in the region at a very rapid pace. Of course, that still suggests certain diplomatic outcomes and could be a pressure,” James told CNBC’s “Access Middle East” on Thursday.

“But as more and more aircraft arrive and more and more equipment is introduced, that signaling becomes more and more expensive. So the desired return from a diplomatic perspective has to be greater. And there is no indication that Iran will be able to provide the absolute minimum that the US government would demand,” she added.

crude oil price

Energy market participants are closely monitoring the outcome of talks between the United States and Iran in Geneva, particularly regarding the Strait of Hormuz, a major international waterway that Iran partially closed on Tuesday citing “security precautions.”

The Strait of Hormuz, located in the Gulf between Oman and Iran, is recognized as one of the world’s most important oil chokepoints.

In 2025, about 13 million barrels of crude oil per day passed through the Strait of Hormuz, accounting for about 31% of global offshore oil flows, according to data provided by market intelligence firm Kpler.

Oil prices rose on Thursday morning, continuing to rise after rising more than 4% in the previous session. international benchmark brent Crude oil futures for April delivery rose 0.7% to $70.81 per barrel. west texas intermediate Futures for March delivery rose 0.6% to $65.58.

—CNBC’s Lee Ying Shan contributed to this report.